Section 7-24A-18 - Additional security. - New Mexico Statutes

7-24A-18. Additional security.

To further the marketability of bonds, the ordinance authorizing their issue may:   

A.     secure their payment by deed of trust or mortgage conveying county or municipally owned land and improvements acquired for the public transit facility operation or use from the proceeds of the bonds to a trustee for the benefit and security of the bondholders; and   

B.     authorize any other security agreement not in conflict with law.